- FCA fines UBS £27.6m for transaction reporting failures
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- Equfund relaunches Reap to address housing shortage
- Lloyds CEO gives up final salary pension after growing pressure
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- NatWest launches ‘Back Her Business’ female-only crowdfunding
- Barclays to sponsor the FA Women's Super League expired
- Cambridge & Counties joins National Association of Commercial Finance Brokers expired
- Lloyds commits over £9m to support SME apprenticeships in the UK expired
- Buy-to-let market beats gold, cash and fine art for investment returns, finds VeriSmart expired
- UK's wealthy frustrated by struggles with high-street banks, says BML expired
- Brexit has inflicted serious damage on UK financial services, says deVere expired
13th March 2018
Entersekt launches digital payments enablement product
Entersekt has launched Connekt, a digital commerce enablement product. The company is offering Connekt to financial services providers to help them adapt to changing market conditions.
To reclaim their previously uncontested position in payments, financial services providers must look to their banking apps and combine in them the best of digital banking with the latest in mobile payments. Doing so will not only strengthen their posture against disintermediation and improve customer retention with a wider service offering, it also promises to draw significantly more traffic to their apps daily, increasing transaction rates and revenue.
The trust that banks’ brands inspire, their large customer bases, and the relative ease with which they can onboard and provision users of new payments services count in their favour as they set out on this journey. Challenges however remain. Integrating disparate payments technologies in as seamless a way as possible takes time and money and, as costs climb, the risk of non-adoption becomes harder to bear.
Connekt helps financial institutions resolve this quandary. It puts at their disposal a secure service platform and ever-expanding menu of on-the-go digital payments functionality and third-party products, including tokenisation and HCE wallets for tap to pay, QR-based scan to pay, and 3-D Secure 1.0 and 2.0. These new payments services can be switched on within their existing banking apps quickly and easily, no matter the underlying technology, payment endpoint, or merchant network involved.
Schalk Nolte, Entersekt’s CEO, said: “We are applying what we have learned in digital banking security over the last decade to a broader set of problems affecting providers of digital services. Entersekt has always seen itself as a Fintech partner to banks, and our institutional customers remain our biggest source of inspiration. By listening to them closely and responding with creativity, we continue to make good on our commitment to enable the best in mobile-first innovation.”